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Mon 2 Jan 2017 02:06 PM

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Dubai's DP World mulling plans to set up Egyptian dry port

Port operator is said to be sending delegation to Egypt to hold talks on possible investments

Dubai's DP World mulling plans to set up Egyptian dry port

Dubai-based port operator DP World is reportedly mulling plans to set up a dry port near Cairo in Egypt.

DP World is also considering the establishment of other ports around Egypt, according to a report by the Daily News Egypt which quoted the country's Minister of Industry and Trade, Tarek Kabil.

According to the report, a DP World delegation will visit Egypt soon to hold talks about possible investments.

It added that the Dubai company wants to invest in developing the infrastructure of Egyptian ports and establishing free zones around the country.

The comments comes following a meeting between Kabil and Sultan Ahmed bin Sulayem, chairman and CEO of DP World.

Last week, DP World announced that it has acquired an additional 23.94 percent stake in Pusan Newport Company Limited (PNC) in South Korea from Samsung Corporation & Subsidiaries while it said earlier in December that it plans to expand its presence in Peru.

In October, the company said it handled 47.5 million TEU (twenty-foot equivalent units) across its global portfolio of container terminals during the first nine months of 2016.

It said that gross container volumes grew by 2.2 percent on a reported basis, and up 1 percent on a like-for-like basis.

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